'Does this group really think they will gain the support of large institutions/Orbis without some real proof this Chinese Bank will takeover funding?'
Orbis is a CER majority holder.
"The ASX announcement hardly reads as a professional document i.e. very limited details on alternative director qualifications & refinancing arrangements."
Seen worse.
Check their website http://www.cnpsa.org
It's all there in kings english.
"Current refinancing proposals by banks is based on the way current directors & CNP senior management have handed the situation so far, current banks could easily withdraw their support if a newly elected group of directors tried to change the existing arranghements."
Current banks new that directors were on the way out.
CER Price at posting:
9.3¢ Sentiment: LT Buy Disclosure: Held
